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Topic: Other cryptocurrencies follows same graph as bitcoin, what is your opinion? - page 3. (Read 405 times)

newbie
Activity: 308
Merit: 0
You have to understand who come in the market 1st btc there is no confusions also most of them are following btc because it is the father of crypto market based on this many new coin still doing their graph based on btc and btc is the unique coin also and this have good profit.
newbie
Activity: 201
Merit: 0
Bitcoin is the parent of all Cryptocurrency currencies, so I'm not surprised if its prices often follow the bitcoin price chart. and I think this is a long time ago. bitcoin up, altcoin go up. Bitcoin down, altcoin also come down.
hero member
Activity: 700
Merit: 500
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Every coin is traded against bitcoin so whenever there will be big drop in bitcoin's price, every altcoin's price in terms of USD will go down.

Similarly when people start to sell their altcoins for bitcoin to exit with USD out of panic during such drop, altcoin also losses price in terms of bitcoin which make is loss more in terms of USD compared to what bitcoin have lost in last 24 hour.
newbie
Activity: 112
Merit: 0
because the price of bitcoin does affect everyone and their wills to sell or hold, which leading to affect other coins, too.
copper member
Activity: 252
Merit: 3
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Firstly, Bitcoin still enjoys the no.1 position even with the advent of 1600+ cryptocurrencies. It emerges as the first choice of investors despite of its limitations and high price. Its high popularity makes people think that the other coins will also follow the same trend.

Bitcoin is considered as the base and altcoins as derivatives. Though better but still the successors. There isn't any technical reason behind your question, it's the behavior of traders which makes this happen.
newbie
Activity: 168
Merit: 0
Because BTC is the top coin being traded for other alts in terms of market cap, volume, and general popularity, it is thus at the center of the crypto economy and has some gravity behind it (enough gravity to have an almost constant relationship with alt prices).

we could not deny that btc gather the biggest money in the marketplace thus any movement to this coin could greatly influence the marketprice..
member
Activity: 154
Merit: 10
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Because most of the time bitcoin affects people's confidence.
If bitcoin falls significantly, people will lose confidence, and other altcoin will be sold at this time, causing the whole market to fall or rise synchronously.
newbie
Activity: 154
Merit: 0
I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.

What is the reason behind this in your own opinion ?
I think that's because Altcoins are mostly traded in Bitcoin/Altcoin pairs and if Fiat price of Bitcoin falls, then the Fiat price of the Altcoins will fall in almost the same amount

Bitcoin serve as a role model altcoins follows almost all  it's processing this is a good  example of cryptocurrencies have teamwork for a better future of digital currency they separate ways of promotion in return bitcoin and altcoins has a strong foundation to remain in the industry world.
full member
Activity: 406
Merit: 101
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I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.

What is the reason behind this in your own opinion ?
I think that's because Altcoins are mostly traded in Bitcoin/Altcoin pairs and if Fiat price of Bitcoin falls, then the Fiat price of the Altcoins will fall in almost the same amount
member
Activity: 122
Merit: 16
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That's because the coin coins do not want to disappear, I also feel strange on coins like bitcoin cash and bitcoin gold, the coin has a high enough price, whereas the coin is rarely used.
btj
member
Activity: 115
Merit: 16
I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.

What is the reason behind this in your own opinion ?
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